Medtronic PLC (NYSE:MDT) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lifted its stake in Medtronic PLC (NYSE:MDT) by 137.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 112,680 shares of the medical technology company’s stock after purchasing an additional 65,273 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Medtronic were worth $10,334,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MDT. Evolution Wealth Advisors LLC increased its stake in Medtronic by 403.7% during the second quarter. Evolution Wealth Advisors LLC now owns 272 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 218 shares during the last quarter. Price Wealth LLC increased its stake in Medtronic by 73.2% during the second quarter. Price Wealth LLC now owns 291 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 123 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in Medtronic by 64.6% during the second quarter. JFS Wealth Advisors LLC now owns 311 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 122 shares during the last quarter. Balentine LLC acquired a new stake in Medtronic during the first quarter worth $33,000. Finally, Hoey Investments Inc. acquired a new stake in Medtronic during the second quarter worth $46,000. 79.90% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the company. Piper Sandler reissued a “buy” rating and set a $120.00 target price on shares of Medtronic in a research note on Tuesday, August 11th. SunTrust Banks cut their target price on Medtronic from $130.00 to $105.00 in a research note on Wednesday, May 27th. Zacks Investment Research cut Medtronic from a “hold” rating to a “strong sell” rating and set a $84.00 target price for the company. in a research note on Wednesday, July 29th. Bank of America restated a “buy” rating and set a $130.00 price target on shares of Medtronic in a research report on Friday, May 22nd. Finally, Jefferies Financial Group raised their price target on Medtronic from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $115.75.

In related news, CFO Karen L. Parkhill sold 702 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $107.78, for a total value of $75,661.56. Following the transaction, the chief financial officer now owns 87,366 shares in the company, valued at approximately $9,416,307.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hoedt Rob Ten sold 9,563 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $105.05, for a total value of $1,004,593.15. Following the completion of the transaction, the executive vice president now owns 53,060 shares in the company, valued at approximately $5,573,953. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Shares of MDT traded down $0.08 during midday trading on Wednesday, reaching $107.49. 3,685,569 shares of the stock were exchanged, compared to its average volume of 6,011,681. The business’s 50-day moving average price is $101.92 and its 200 day moving average price is $96.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 1.53. Medtronic PLC has a twelve month low of $72.13 and a twelve month high of $122.15. The company has a market capitalization of $144.49 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 3.41 and a beta of 0.68.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 25th. The medical technology company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.41. Medtronic had a return on equity of 10.47% and a net margin of 15.80%. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was down 13.2% compared to the same quarter last year. As a group, equities research analysts expect that Medtronic PLC will post 3.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 24th. Medtronic’s dividend payout ratio (DPR) is currently 50.54%.

About Medtronic

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.

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Institutional Ownership by Quarter for Medtronic (NYSE:MDT)

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